All Forum Posts by: Andre Mariano

looks stunning @Jon Klaus. Quick question, what did you use in the kitchen flooring? I'm in portugal, wanted to use laminate on my rehab because it's a kitchen/living room, but the contractor told me it was dumb as it was not water proof and i'd have to change it in a short period of time

why sensitive? she adds to bills, sooo, chip in

If they store the old one in the house I have no problem with them using their own, but if they ruin it or scratch anything on it's way to storage, they're paying

Oh my bad, never really invested on a commercial so I don't know... but at the same time, CoC is CoC hehe. My CoC ranges from 25-50% , would never consider anything under 20%

I'm sorry, 8% return? 
only me who sees this as low? 

Hey Guys 

I'm a recent wannabe investor from Portugal, 24YO.
My first deal went pretty decent. small 2 bedroom apartment, with furniture, ready to rent for 37k after taxes, rents for 350 a month, I'm quite happy with the return! :)

now I'm looking at my possible second deal.

it's an older one. 4 bedrooms 1 bathroom, will need painting, furniture.. might be able to keep the kitchen, but it's old looking. will probably be renting to students and truth be told. they don't have options. very few places to rent in the city. 

45k + repairs, rents for 125/bedroom/month (around 500). now the cool thing it actually brings an attic that already has water and electricity, and an old bathroom in it. would have to fully restore this attic but I would be able to make a 1bedroom apartment there. won't probably rent it for much more than a bedroom on the actual apartment though as it's a descending ceiling on both sides. As a student, I'd live there no problem tbh but not everyone is as low maintenance like me..
it also has a small garage. maybe I could rent that too. not sure if anyone would want it though. maybe 50 bucks from it.. no idea...

I'm kind of scared as the bank only loans 80% of the value and I would have to put in 9000k+2k closing costs + repairs (I'm assuming 5-10k). I only have around 14k in the bank (Portugal is a leftist country, people make 600 a month here, none of my friends ever saw more than 3k on their account, and most never saw 4 digits). Even though I have enough (my parents will help me with the extra I need) i'm scared as I won't have enough to fix anything if something breaks, or goes over budget, or even in my first apartment if something happens there. but on the other hand, I feel like it's a great opportunity and hard to come by another one like it..
I could probably put the renovation of the attic to later and focus on the 4 bedrooms first..

any insights?
ps. besides college, I'm a software developer full time. net 13k a year, anyone wants to hire a developer for a bit more? haha 
Have a nice one and happy memorial day! (I believe it's today, not sure)